Published on: September 15, 2023



Why in news?  National payment corporation of India has launched new intiatives at the Global Fintech Festival .


  • NPCI launched a slew of new payment options on popular payments platform UPI including conversational transactions.

Credit Line on UPI

  • It enables pre-sanctioned credit lines from banks through UPI
  • Creation of digital credit products by banks, the establishment of interest-free credit periods, defined schedule of charges, and the ability to link various pre-sanctioned credit lines via UPI-enabled apps for transactions are other various products
  • All UPI apps, including bank and third-party apps, will be empowered to discover and link credit lines on UPI, as well as provide end-to-end customer lifecycle services.

UPI LITE X and Tap & Pay

  • It ensures money transaction completely offline, allowing users to initiate and execute transactions even in areas with poor connectivity, such as underground stations, remote areas, etc.
  • It will be accessible to anyone with a compatible device that supports Near Field Communication (NFC).

Hello! UPI – Conversational Payments on UPI

  • It will augment user experience by enabling them to make voice-enabled UPI payments via UPI Apps, telecom calls, and IoT devices in Hindi and English, and will soon be available in several other regional languages
  • NPCI has partnered with the Bhashini program – AI4Bharat at IIT Madras, to co-develop Hindi and English payment language models.

BillPay Connect – Conversational Bill Payments:

  • It introduces a nationalized number for bill payments across India.
  • Customers can pay their bills by sending a simple ‘Hi’ on the messaging app.
  • Customers without smartphones or immediate mobile data access will be able to pay bills by giving a missed call.